Crypto Trading: Forget Reddit, Institutions Now Dominate

Retail investors may have been the first ones to get involved with cryptocurrencies, but now it’s institutional investors running the show.

Last year, institutions traded $1.14 trillion of cryptocurrencies on Coinbase Global  (COIN) , the biggest U.S. digital-currency exchange, more than double the $535 billion total for retail players, The Wall Street Journal reports. The institutional total surged almost 10 times from $120 billion in 2020.

“It’s a completely different game now than it was,” Leah Wald, chief executive of Valkyrie Funds, which sells cryptocurrency exchange-traded funds, told the paper.

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